The Number of Loan Debtors has Grown in Russia
OREANDA-NEWS. Russians have become worse at servicing bank loans. The number of debtors with overdue consumer loans for the year soared by eight percent, reaching 5.4 million people (compared to 2019, the number of debtors doubled). The deterioration of statistics on loans is mentioned in the report of the National Association of Professional Collection Agencies.
On average, the debtor accounts for 1.2 loans. The share of monthly income that Russian citizens use to pay off overdue loans does not exceed 10 percent (before the pandemic, the figure was 20 percent). According to the Association's calculations, the average debt maturity is two years.
The rise in unemployment and the fall in income have led to the fact that almost every second borrower with an open unsecured loan is at risk, experts say. In addition, according to the Lime Loan survey, clients of microfinance institutions (MFOs) with credit cards are forced to take out loans to pay off monthly payments. The most popular type of spending on credit cards 75 percent of respondents named spending on food.
In Russia, women who have loans turned out to be more responsible than men: among the loans they took without delays, 87 percent were repaid, while among men this share is lower - 82 percent.